Shark Tank: Mark Cuban Makes Deal With Dino Don and Don Lessem out of Media
Dino Don founder Don Lessem convinced one celebrity investor to buy into his dinosaur exhibit business idea on the season finale of “Shark Tank”, writes Lisa Dukart for Philadelphia Business Journal.
The others opted out.
Lessem’s Media company makes robotic dinosaurs. Lessem himself was a consultant on Steven Spielberg’s “Jurassic Park.”
Lessem, his wife, philanthropic consultant Valerie Jones, and two 20-foot dinosaurs made their Shark Tank presentation.
Everyone was impressed as the two life-size animatronic creatures, a dakotaraptor and a juvenile tyrannosaurus rex, roared on stage.
In the end, though, only Cuban was willing to invest $500,000 in the proposal.
The plan is to tour groups of the 150 robotic dinosaurs at nine venues like museums and zoos over seven months, and enter profit-sharing agreements with them instead of renting out the creatures.
The pandemic hit the bottom lines of these places, but the touring dinosaurs boost attendance so profit sharing could benefit Dino Don and the entities.
“Guys look, I like the idea,” said Cuban. “I think I can help you with marketing.”
Lessem and Jones gave up a 25% stake in the company in exchange for Cuban’s offer.
Read more at Philadelphia Business Journal about Dino Don’s proposal and new investor.
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